Start of production of electric vehicle battery cells and modules with an annual capacity of 23 GWh, to be operational in 2025

The US state of Indiana is set to become the North American outpost for Stellantis' electric vehicle production.

Samsung SDI and Stellantis announced that they have selected Kokomo, Indiana as the site for their first electric vehicle battery cell and module joint venture in the U.S. and will invest more than $2.5 billion.

The two companies and the Indiana state government held an investment announcement event in Kokomo, Indiana, on the 24th and signed a contract to establish a joint venture.

The event was attended by government officials including Indiana Governor Eric Holcomb, Indiana Secretary of Commerce Bradley Chambers, and Kokomo Mayor Tyler Moore, as well as key executives from both companies, including Samsung SDI CEO and President Choi Yoon-ho and Stellantis North America COO Mark Stewart.

The joint venture is expected to begin construction in late 2022 and begin full operation in the first quarter of 2025.

It is expected that the production of electric vehicle battery cells and modules will start at an initial annual capacity of 23 GWh and expand to 33 GWh, and the investment is also expected to increase to 3.1 billion dollars.

The batteries produced by the joint venture will feature Samsung SDI's latest technology, represented by PRiMX. PRiMX is a brand that was first launched by Samsung SDI in the battery industry at the end of last year, and was first unveiled at CES 2022 in the US in January. It refers to all batteries produced by Samsung SDI.

Samsung SDI President and CEO Choi Yoon-ho said, “Through our joint venture with Stellantis, we have established a solid foothold in the rapidly growing North American electric vehicle market and will contribute to achieving climate change goals going forward.”

“A year ago, we launched an aggressive electrification strategy built on five gigafactories in Europe and North America,” said Carlos Tavares, CEO of Stellantis. “Today’s announcement demonstrates Stellantis’ commitment to a ‘decarbonized future’ as outlined in our Dare Forward 2030 plan, while further solidifying our global battery production strategy.”